Allied Credit Solutions Reviews
Reviews of Allied Credit Solutions from real customers
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Allied Credit Solutions, LLC was founded by experts with years of corporate finance, business development, and transactional law experience to bring consumers credit solutions. Offering services in credit repair, collection removal, identity theft, consumer credit monitoring, auto lending, and the basis of our review – debt settlement and management services, they provide solutions to restore credit and get clients on the road to financial success.
The Good
Allied Credit Solutions offers consumers a broad-spectrum of services including credit repair, collection removal, identity theft, credit monitoring, auto lending and other franchise opportunities. Among their product offering, they include debt settlement. Within this review, we’ll cover as much information about the program as possible.
First, consumers are encouraged to take advantage of a free consultation to determine whether the settlement program will be suitable for their unique financial needs. Once clients enroll in the settlement program, they will make monthly payments in which service fees and creditors will be paid upon successful negotiation of a settled debt. Typically clients are required to set up a trust or escrow account where the company requires a predetermined monthly amount to be set aside in order to accumulate enough funds to begin the negotiation process. Unfortunately, we were unable to determine if this is the policy of this company.
ACS claims to have a “No-results, No-charge” guarantee, although, under strict FTC regulation, companies enrolling consumers into a debt settlement program must adhere to operating on a performance-based model – meaning if they are unable to negotiate a debt, they don’t get paid. This rule was implemented in 2010 as a result of companies luring in consumers facing economic hardship, charging upfront, enrollment, or monthly fees, while doing nothing to negotiate and settle debts in a professional and timely manner.
Along with their free consultation, Allied Credit Solutions offers military discounts.
Allied Credit Solutions also offers:
- “No Results, No Charge” guarantee
- Free consultation
- Customer testimonials
The Bad
We have more than one concern when it comes to this company. A consumer enrolled in a credit program requesting to get information wrongfully added to their credit report removed. After six months and no results, their clients requested a refund but were denied that $1,500 request from the CEO. After the report was filed, the company failed to respond, which rendered them the lowest rating.
We’re concerned with their debt settlement program policy and process. There is very little information on the website concerning debt settlement, with most of the information being on their other product offerings. Because we were unable to get in touch with the individual handling debt settlement, we are unable to provide a clear assessment of whether it’s beneficial to consumers.
ACS does little to offer educational resources and tools to consumers and clients and their lack of pricing or communication regarding such also concerns us.
They are not AFCC or IAPDA Accredited. AFCC and IAPDA affiliation isn’t a necessary part of a capable debt relief company, but it is a good way of further establishing credibility and ability to serve customers.
The Bottom Line
Allied Credit Solutions offers a free consultation and a “no results, no charge guarantee,” but beyond that their services are limited, with information on debt settlement being extremely limited. Their lack of transparency concerns us. Overall, we have a hard time recommending this company to consumers and recommend looking elsewhere for your debt settlement needs.
- Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
- Negotiates with your creditors on your behalf.
- Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
- Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
- Combines all your debts and creditors into one monthly payment.
- Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
- You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
- Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
- Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
- Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
- Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
- Borrowers can receive funds from their loan within only a few days.
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